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Baltimore-based Sinclair Broadcast Group, fresh from announcing its $1.2 billion purchase of WTTV-TV Channel 4's parent company, is expected to make a play for WXIN-TV Channel 59 as well.
Sinclair announced last week that it is buying closely held River City Broadcasting, the St. Louis-based parent of local independent station Channel 4.
Sinclair Chief Executive Officer David Smith has vowed to build one of the nation's largest television and radio companies. Channel 59 parent Renaissance Communications might be his next target.
"It would make a lot of sense for
Sinclair and Renaissance
to get together," said Harry J. DeMott, an analyst with CS First Boston.
"If it isn't happening now, I'm sure Sinclair is considering it," said another industry source.
"
Renaissance
has been considered in a lot of
trade magazines
as somebody who's going to grow, and as a possible takeover," said Rod Bacon, general manager of Channel 59.
The Fox Network is also rumored to be a potential suitor for Renaissance. Fox executives, unhappy with Sinclair's management philosophy, might acquire Renaissance as a defensive buy, according to...